StoneX Group Inc. $SNEX Stock: Ibex Wealth Advisors Raises Stake

Ibex Wealth Advisors grew its holdings in StoneX Group Inc. (NASDAQ:SNEX) by 54.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 159,898 shares of the company’s stock after purchasing an additional 56,425 shares during the quarter. Ibex Wealth Advisors owned about 0.13% of StoneX Group worth $10,336,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Rakuten Securities Inc. acquired a new stake in shares of StoneX Group in the second quarter valued at $26,000. Root Financial Partners LLC acquired a new position in StoneX Group during the 3rd quarter worth about $31,000. Fortitude Family Office LLC grew its holdings in StoneX Group by 1,175.0% during the 3rd quarter. Fortitude Family Office LLC now owns 510 shares of the company’s stock worth $33,000 after acquiring an additional 470 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in StoneX Group during the 1st quarter worth about $34,000. Finally, USA Financial Formulas bought a new stake in StoneX Group during the 3rd quarter worth about $38,000. Institutional investors own 75.93% of the company’s stock.

Insiders Place Their Bets

In other StoneX Group news, insider Mark Maurer sold 52,953 shares of the stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $60.35, for a total value of $3,195,713.55. Following the transaction, the insider owned 219,663 shares of the company’s stock, valued at approximately $13,256,662.05. This represents a 19.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Diego Rotsztain sold 20,298 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $67.13, for a total value of $1,362,604.74. Following the transaction, the insider owned 34,870 shares in the company, valued at approximately $2,340,823.10. This trade represents a 36.79% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 394,567 shares of company stock valued at $25,321,996 in the last ninety days. 11.79% of the stock is currently owned by insiders.

StoneX Group Trading Up 0.2%

SNEX traded up $0.13 during trading on Friday, reaching $57.24. 792,076 shares of the company’s stock were exchanged, compared to its average volume of 989,400. The company’s fifty day moving average price is $61.74 and its 200-day moving average price is $70.91. The firm has a market capitalization of $6.90 billion, a PE ratio of 13.66 and a beta of 0.66. StoneX Group Inc. has a fifty-two week low of $36.45 and a fifty-two week high of $94.66. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.39 and a current ratio of 1.82.

Analyst Upgrades and Downgrades

SNEX has been the topic of a number of research reports. Jefferies Financial Group lowered shares of StoneX Group from a “buy” rating to a “hold” rating and reduced their target price for the stock from $123.00 to $112.00 in a research report on Monday, July 20th. Wall Street Zen lowered shares of StoneX Group from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Zacks Research cut shares of StoneX Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Finally, Weiss Ratings downgraded StoneX Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, October 14th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, StoneX Group has an average rating of “Hold” and a consensus price target of $112.00.

StoneX Group Profile

StoneX Group Inc. is a global financial services company that connects businesses, institutions and individual investors with markets. Its services include trade execution and clearing, risk management, market intelligence, and financing for participants in commodity and financial markets. The company serves commercial and institutional clients across sectors such as agriculture, energy and metals, and offers foreign exchange, securities and other trading services. Its retail business provides online trading platforms, while its payments operations support domestic and cross-border transactions.